November 5, 2019 / 12:15 PM / 15 days ago

Kroger's 2020 profit, same-store sales estimates top expectations

Nov 5 (Reuters) - Kroger Co on Tuesday forecast 2020 profit and same-store sales ahead of Wall Street estimates, as the supermarket chain benefits from its investments in store modernization and delivery services.

The company forecast adjusted profit between $2.30 and $2.40 per share in 2020, and identical sales growth, excluding fuel, to be greater than 2.25%.

Analysts are expecting the company to earn $2.30 per share in 2020 and report same-store sales growth of 1.99%, according to IBES data from Refinitiv.

Kroger reconfirmed its 2019 forecast on identical sales and earnings. (Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)

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